You are required to: PLEASE PROVIDE ANSWERS FULL ACCORDING THE MARKS INDICATED AND NOT AUTOMTED ANSWERS, ANSWER ALL THREE (3) QUEATIONS.

1. Calculate the new membership interest and show the statement of changes in net membership investment and membership interest in each of the following instances separately.

a) Beo decides to sell 1/5 of his current interest to Reo. The interest is valued at N$ 25 000 of which N$ 15 000 has been deposited into the bank account of the CC as a loan from Beo. The balance of the amount has been paid to Beo as his own funds. (17 marks).

b) The CC buy back the interest of Teo for N$ 50 000. (6 marks).

c) Erica and Ladia, are planning to open a business, however they are not sure as to the type of enterprise suits them, from your knowledge, Is it possible to convert a close corporation into a company? If so, how should they do it? (3 marks)

C My folder PDF + X x | G Gmail X C QUESTION 4 (26 Mark X C Get Homework Help VX C Get Homework Help VX DEL 2022 Distance Assignr X File | D:/2022%20Assignments/2022%20Distance%20Assignments%20-%20AFE3691%20-%20Financial%20Accounting%201A.pdf Ik i 2 : c + 19 of 25 Q Q + (L Page view A Read aloud | T Add text | Draw V Highlight Erase G a A 19 Kalahari CC Statement of Financial Position as at 31 December 2020 2020 2019 N$ N$ 220 000 220 000 ASSETS Non-current assets Current assets 123 000 77 000 352 000 297 000 CAPITAL AND LIABILITIES 180 000 180 000 70 000 70 000 50 000 50 000 Members' contributions: Beo(50%) Reo(35%) Teo(15%) Retained earnings Non-current liabilities Current liabilities 60 000 60 000 90 000 65 000 45 000 45 000 37 000 7 000 352 000 297 000 Activate Windows Go to Settings to activate Windows. Type here to search O - J' Y C W 22C Mostly sunny A4) ENG ) 9:22 AM 3/15/2022 o C My folder PDF + X x | G Gmail X C QUESTION 4 (26 Mark X C Get Homework Help VX C Get Homework Help VX DEL 2022 Distance Assignr X File | D:/2022%20Assignments/2022%20Distance%20Assignments%20-%20AFE3691%20-%20Financial%20Accounting%201A.pdf Ik i 2 : c + 19 of 25 Q Q + (L Page view A Read aloud | T Add text | Draw V Highlight Erase G a A 19 Kalahari CC Statement of Financial Position as at 31 December 2020 2020 2019 N$ N$ 220 000 220 000 ASSETS Non-current assets Current assets 123 000 77 000 352 000 297 000 CAPITAL AND LIABILITIES 180 000 180 000 70 000 70 000 50 000 50 000 Members' contributions: Beo(50%) Reo(35%) Teo(15%) Retained earnings Non-current liabilities Current liabilities 60 000 60 000 90 000 65 000 45 000 45 000 37 000 7 000 352 000 297 000 Activate Windows Go to Settings to activate Windows. Type here to search O - J' Y C W 22C Mostly sunny A4) ENG ) 9:22 AM 3/15/2022 o